702,202 Shares in Boyd Gaming Corporation $BYD Bought by Norges Bank

Norges Bank acquired a new stake in shares of Boyd Gaming Corporation (NYSE:BYD) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 702,202 shares of the company’s stock, valued at approximately $54,933,000. Norges Bank owned about 0.88% of Boyd Gaming at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of BYD. Ruffer LLP acquired a new stake in shares of Boyd Gaming during the 2nd quarter valued at approximately $6,471,000. Counterpoint Mutual Funds LLC acquired a new stake in shares of Boyd Gaming during the second quarter worth $402,000. EP Wealth Advisors LLC bought a new position in shares of Boyd Gaming in the 1st quarter worth about $206,000. Strs Ohio acquired a new position in shares of Boyd Gaming in the 1st quarter valued at about $1,939,000. Finally, Redwood Investment Management LLC grew its position in shares of Boyd Gaming by 7.0% during the 1st quarter. Redwood Investment Management LLC now owns 75,792 shares of the company’s stock valued at $4,989,000 after buying an additional 4,977 shares during the last quarter. 76.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Boyd Gaming

In other news, Director William R. Boyd sold 20,000 shares of the stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $80.36, for a total value of $1,607,200.00. Following the completion of the transaction, the director directly owned 1,960,447 shares in the company, valued at $157,541,520.92. This trade represents a 1.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 27.94% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on BYD. Raymond James Financial reissued an “outperform” rating on shares of Boyd Gaming in a report on Monday, September 8th. Mizuho raised their price target on Boyd Gaming from $89.00 to $99.00 and gave the stock an “outperform” rating in a report on Friday, October 24th. Weiss Ratings restated a “buy (b-)” rating on shares of Boyd Gaming in a research report on Monday. Macquarie reaffirmed a “neutral” rating and issued a $90.00 target price on shares of Boyd Gaming in a research report on Friday, October 24th. Finally, Citigroup initiated coverage on shares of Boyd Gaming in a report on Thursday, November 20th. They set a “neutral” rating and a $86.00 price target for the company. Six equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $89.54.

Boyd Gaming Stock Down 0.6%

Shares of Boyd Gaming stock opened at $80.90 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.51 and a quick ratio of 0.49. Boyd Gaming Corporation has a 1-year low of $58.94 and a 1-year high of $88.49. The business’s fifty day moving average price is $81.82 and its two-hundred day moving average price is $81.36. The company has a market capitalization of $6.32 billion, a P/E ratio of 3.54, a PEG ratio of 2.17 and a beta of 1.24.

Boyd Gaming (NYSE:BYD) last issued its quarterly earnings results on Tuesday, April 11th. The company reported $1.35 EPS for the quarter. Boyd Gaming had a return on equity of 34.63% and a net margin of 46.02%.The company had revenue of $707.32 million for the quarter. As a group, research analysts forecast that Boyd Gaming Corporation will post 6.52 EPS for the current year.

Boyd Gaming Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Monday, December 15th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Monday, December 15th. Boyd Gaming’s payout ratio is 3.15%.

Boyd Gaming Company Profile

Boyd Gaming Corporation, together with its subsidiaries, operates as a multi-jurisdictional gaming company in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Ohio, and Pennsylvania. The company operates through Las Vegas Locals, Downtown Las Vegas, Midwest & South, and Online segments.